Press Release No. 11/252

Press Release: IMF Statement on the Executive Board’s Conclusion of Meetings with Candidates for the Position of the Next Managing Director

June 23, 2011

Mr. A. Shakour Shaalan, Dean of the Executive Board of the International Monetary Fund (IMF), issued the following statement today following meetings with the two candidates for the position of the next Managing Director:

“The Executive Board met this week with Mr. Agustín Carstens and Ms. Christine Lagarde, the two candidates for the position of Managing Director. The candidates have also met bilaterally with Executive Directors. These meetings have been an opportunity for both candidates to present to the Executive Board all relevant information concerning their respective candidacies. Mr. Carstens and Ms. Lagarde have released their statements to the Board, laying out their views on issues facing the Fund and its 187 country members.

“The Board plans to meet early next week to discuss the strengths of each candidate, with the aim of completing the selection process by June 30. Although the Board may select a Managing Director by a majority of the votes cast, the Board’s objective is to select the Managing Director by consensus in a formal meeting.

“The selection of the next Managing Director will be announced through a press release.”